April 16, 2016
Mohenjo
Breaking News
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A small core of super-rich individuals is responsible for the record sums cascading into the coffers of super PACs for the 2016 elections, a dynamic that harks back to the financing of presidential campaigns in the Gilded Age.
Close to half the money — 41 percent — raised by the groups by the end of February came from just 50 mega-donors and their relatives, according to a Washington Post analysis of federal campaign finance reports. Thirty-six of those are Republican supporters who have invested millions in trying to shape the GOP nomination contest — accounting for more than 70 percent of the money from the top 50.
In all, donors this cycle have given more than $607 million to 2,300 super PACs, which can accept unlimited contributions from individuals and corporations. That means super PAC money is on track to surpass the $828 million that the Center for Responsive Politics found was raised by such groups for the 2012 elections.
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San Francisco environmentalist and former hedge-fund manager Tom Steyer is the biggest super PAC donor of 2016. (Jahi Chikwendiu/The Washington Post)
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https://www.washingtonpost.com/politics/the-new-gilded-age-close-to-half-of-all-super-pac-money-comes-from-50-donors/2016/04/15/63dc363c-01b4-11e6-9d36-33d198ea26c5_story.html?hpid=hp_no-name_superpacs-830a_1%3Ahomepage%2Fstory
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August 3, 2015
Mohenjo
Breaking News
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The Democratic and Republican parties certainly don’t agree on how to run the country, but they are in sync when it comes to capitalizing on a new law letting them raise eight times as much money from rich donors than before.
The new money technically must be used only for specific purposes, such as legal expenses and improvements to party headquarters. The limits are, however, murkier than they seem, with some lawyers saying the money could legally pay for some election-related costs such as opposition research and data mining.
And the Federal Election Commission, tasked with regulating and enforcing federal campaign finance laws, is at an impasse over whether and how to issue rules governing the new party accounts. As a result, decisions about spending are pretty much up to the parties and their lawyers.
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Many of the donors that have given big to the party committees also have a history of writing big checks to super PACs. YURIKO NAKAO / Reuters, file
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http://www.nbcnews.com/news/us-news/murky-rules-boost-political-parties-rich-donor-slush-funds-n401736
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August 1, 2015
Mohenjo
Breaking News, Political
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A new oligarchic era of American politics came into full view on Friday, as super PACs disclosed fundraising details showing billionaires bankrolling the 2016 presidential race to an unprecedented degree.
The unlimited-money super PACs account for one-third of all federal election funds raised in the first half of 2015 — up from 4 percent at this time in the last presidential election. Three-quarters of all super PAC money came from more than 500 wealthy donors, corporations and unions in contributions above $100,000. More than half the money in the presidential race so far — to super PACs and to campaigns — came from donors who have given at least $100,000.
For the first time in more than a century, the majority of funding for a presidential election is coming in six-figure or larger checks from corporations and the wealthiest Americans. The presidential campaigns, limited to a maximum of $5,400 from a single donor, raised a combined $128 million. Super PACs supporting those candidates pulled in $260 million, with $208 million from those giving $100,000 or more.
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Image: Breaking News and Opinion on The Huffington Post
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http://www.huffingtonpost.com/entry/oligarchy-super-pac-megadonors-have-conquered-american-politics_55bc1eece4b0b23e3ce2f5ec?
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James' World 2 